Stocks dip as investors await MPS unveiling

Staff Correspondent | Published: 01:47, Jul 27,2018

 
 

Dhaka stocks dipped for the third day on Thursday as investors were cautious as banks declared mixed results for the April-June quarter.
Market operators said investors also kept an eye on new monetary policy statement Bangladesh Bank would announce next week.
DSEX, the key index of Dhaka Stock Exchange, shed 0.26 per cent, or 14.27 points, to close at 5,305.17 points on Thursday.
The core index lost 43 points in last three trading sessions.
Despite an upbeat start, the market was mostly in the negative territory on Thursday, the last trading session of the week, as investors were cautious on the trading floor amid mixed earnings declarations by banks, market operators said.
Bangladesh Bank would declare the MPS for the first half (July-December) of the current fiscal year next week.
The share prices of Mercantile Bank, Pubali Bank, Mutual Trust Bank, Shahjalal Islami Bank and National Bank advanced on Thursday as the banks declared profit growth for the second quarter (April-June) period.
Despite a profit growth in the April-June period, the share prices of BRAC Bank dropped as the bank decided to purchase land for building its head office that would cost the bank Tk 208.6 crore, market operators said.
Like United Commercial Bank, Trust Bank and Rupali Bank, Uttara Bank and First Security Islami Bank declared on Thursday profit fall for the April-June period. The share prices of Uttara Bank and First Security Islami Bank fell on the day.
Therefore, the average share prices of banks and non-bank financial institutions declined marginally by 0.1 per cent each on Thursday.
Besides the financial sectors, telecommunication, energy and pharmaceuticals dropped by 1 per cent, 0.7 per cent and 0.4 per cent respectively.
On the other hand, the share prices of cement, textile and food sectors advanced by 2.9 per cent, 0.4 per cent and 0.2 per cent respectively.
‘The market slowed down ahead of the announcement of monetary policy statement by the central bank and also most banks declared poor performance for the second quarter period,’ said EBL Securities in its daily market commentary.
Turnover on the DSE dropped to Tk 855.62 crore on Thursday compared with that of Tk 954.43 crore in the previous trading session.
Of the 337 companies and mutual funds traded, 170 declined, 117 advanced and 48 remained unchanged.
DS30, the blue-chip index of the DSE, also lost 0.24 per cent, or 4.58 points, to close at 1,890.51 points.
Shariah index DSES dipped 0.34 per cent, or 4.32 points, to finish at 1,259.78 points.
Active Fine Chemicals led the turnover chart with its shares worth Tk 30.59 crore changing hands.
BBS Cables, BD Thai, Dragon Sweater, Fortune Shoes, Simtex Industries, Monno Ceramics, Pacific Denims, Saiham Textile Mills and IFAD Autos were the other turnover leaders.
Simtex Industries gained the most on the day with a 9.57-per cent increase in its share prices, while KDS Accessories was the worst loser, shedding 9.68 per cent.

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